DislikedPatiently waiting for the 4-hour to cross the EMA and find bull support. {image}Ignored
Trading the Cable swings via averages
- #9,383
- Apr 3, 2024 6:10pm Apr 3, 2024 6:10pm
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Well that took its sweet time about it crossing the EMA.
My 4-hour chart looks like this now....
The first set of HD's failed to cross the EMA and find support. This second lot of HD's has done the business.
Now a bull support is needed to take out the bear support.
My 4-hour chart looks like this now....
The first set of HD's failed to cross the EMA and find support. This second lot of HD's has done the business.
Now a bull support is needed to take out the bear support.
- #9,385
- Apr 6, 2024 7:07am Apr 6, 2024 7:07am
- Joined Feb 2022 | Status: Coyote | 3,634 Posts
Just landed on this thread yesterday, just already read the first ten pages but waiting at monday to try it, for now been doing warm up studing it at bitcoin this weekend,
price above the ma so we should look for longs but the rsi divergence at m15 worked
Also noticed that the divergence existed in the low high ma, so curious
price above the ma so we should look for longs but the rsi divergence at m15 worked
Also noticed that the divergence existed in the low high ma, so curious
rip and tear until it's done
- #9,386
- Apr 6, 2024 9:26am Apr 6, 2024 9:26am
- Joined Feb 2022 | Status: Coyote | 3,634 Posts
I think I'm getting it, how cool this method.
another round, ma failed doing a LL and also divergence at rsi 
Can't wait to try it at monday
another round, ma failed doing a LL and also divergence at rsi
Can't wait to try it at monday
rip and tear until it's done
- #9,388
- Apr 7, 2024 8:43am Apr 7, 2024 8:43am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
{quote} As stated by Nala. H4 Bull support is required above the previous Bear support. This failed to happen, instead making a H1 divergence to take GU back down to the EMA. Combined with good dollar NFP news we got a push down to the ADR low and that's the day finished. {image}
I was away fishing on Friday, but the chart should look like this...
- #9,391
- Apr 8, 2024 4:22am Apr 8, 2024 4:22am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
{quote} It works fine. P.S. How is beauty Jade doing?
- #9,392
- Apr 8, 2024 4:34am Apr 8, 2024 4:34am
- Joined Feb 2022 | Status: Coyote | 3,634 Posts
rip and tear until it's done
- #9,393
- Apr 8, 2024 11:12pm Apr 8, 2024 11:12pm
Hello Alan, can you read on my inference and give me some comment on how to improve?
Yesterday, GU move around EMA, is not made any bull/bear support. But I choose down side as when find inference from H1, I see RSI fast on the up side, also EMA M5 is make small LH-LL.
So I short at 1 after the bar before H1 confirm bull support is fail.
At 2, I buy because H1 in RSI DIV bull and target ABCD 50% on H1 + ABCD finish on M5.
At X, I don’t see anything at H1 so I do not short. But price reach next level of EMA swing 1.2635, so I exit and call it a day
At this point I’m not trade anymore, just observe price. At 3, H1 DIV RSI bull and i buy again at M5 DIV bull, with ABCD. My target is still 1.2635 ( as EMA M5 fail LL, make HH and if EMA want attack HH at level 1.2631, price must come next EMA level = 1.2635)
At 4, we have H1 continous bear DIV and price band into EMA swing level of H1 + M5 have RSI DIV and i short here. Move to BE when price reject M5 EMA and i got BE here.
At 5, H1 still in continous DIV, M5 have REG DIV bear so i short and take a loss here
At Y, i saw nothing, but it have push down to form bull support here.
Do you think i’m inference right way ? Did i do the right things at X,Y and 5 ?
Yesterday, GU move around EMA, is not made any bull/bear support. But I choose down side as when find inference from H1, I see RSI fast on the up side, also EMA M5 is make small LH-LL.
So I short at 1 after the bar before H1 confirm bull support is fail.
At 2, I buy because H1 in RSI DIV bull and target ABCD 50% on H1 + ABCD finish on M5.
At X, I don’t see anything at H1 so I do not short. But price reach next level of EMA swing 1.2635, so I exit and call it a day
At this point I’m not trade anymore, just observe price. At 3, H1 DIV RSI bull and i buy again at M5 DIV bull, with ABCD. My target is still 1.2635 ( as EMA M5 fail LL, make HH and if EMA want attack HH at level 1.2631, price must come next EMA level = 1.2635)
At 4, we have H1 continous bear DIV and price band into EMA swing level of H1 + M5 have RSI DIV and i short here. Move to BE when price reject M5 EMA and i got BE here.
At 5, H1 still in continous DIV, M5 have REG DIV bear so i short and take a loss here
At Y, i saw nothing, but it have push down to form bull support here.
Do you think i’m inference right way ? Did i do the right things at X,Y and 5 ?
- #9,394
- Apr 9, 2024 4:12am Apr 9, 2024 4:12am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Hello Alan, can you read on my inference and give me some comment on how to improve? Y
Look at the 1-hour chart below.
I have the red vertical timeline on the price chart... This is approximately where I start my day looking for opportunities.
On the RSI I have a red box spanning some 7 hours. If I don't get a signal within this zone I simply quit for the day.
On the price cart I have a red box showing the 40-pip distance. I expect to make 2% profit over this distance and risk 20 pips or 1% in doing so.
There are four in a row successful trades shown here.
Patience is required to get into the trade as we await the signal formation.
Once we are in, we set the target and the stop and then walk away. We can check back periodically but what we don't do is sweat every twist and turn the market makes. We can move the stop to BE if it makes us feel more comfortable, but a 1% risk is not something to get upset about.
If we look at these targets on the 5-minute chart we would see a trend in our direction and more opportunities to enter on pullbacks.
- #9,395
- Apr 9, 2024 7:47am Apr 9, 2024 7:47am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
And thus, the task is completed for this day...
- #9,396
- Apr 9, 2024 7:53am Apr 9, 2024 7:53am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Now, when I look at the daily chart, I can see the failure of the average to make the LL so price is now testing the opposite side.
